Elest, a subsidiary of gold retailer Rajesh Exports, will invest ₹24,000 crore to establish the country’s first display fab facility in Telangana. Telangana IT Minister KT Rama Rao and Rajesh Exports Chairman Rajesh Mehta announced the setting up of the Generation 6 AMOLED Display FAB. The Telangana government signed a Memorandum of Understanding (MoU) with Elest, based in Karnataka, for the proposed fabrication unit that will produce displays of the next generation for smartphones, tablet computers, and laptops.
Elest would set up the Display FAB in collaboration with and with technological contributions from some of the world's most advanced and finest research centres. Additionally, the company would establish a research and development center for advanced display technology of the next generation. The announcement of this investment propels Telangana to the forefront of the semiconductor and display fab industry. The display fab would be set up as part of the India Semiconductor Mission programme of the Ministry of Electronics and Information Technology (MeitY), Government of India.
The IT Minister tweeted, “Historic day for Telangana. Rajesh Exports (Elest), a Fortune-500 company, to setup India’s first Display FAB to manufacture the most advanced AMOLED displays, with an investment of Rs 24,000 crore, making it one of the largest investments in high-tech manufacturing sector in India.” He added that having a display fab in Telangana would place India on par with a select few nations such as China, USA, and Japan.
Against this backdrop, Mehta stated that the display fab in Telangana would attract some of the finest global talents in next-generation technology and would create direct employment opportunities for more than 3,000 people, including scientists and professionals in advanced technology.